New York Attorney General Eric Schneiderman said he is confident his main concern with a pending settlement of alleged bank- foreclosure abuses would be resolved, but he didn't commit to participating in an agreement.
Led by an increase in inquiries for purchase financing, government-insured loans and jumbo mortgages -- overall mortgage activity was higher this week. Both jumbo and 15-year loans were priced more competitively in the latest report, and overall mortgage rates are poised to come in lower in the next report.
New mortgage activity grew 9 percent from last week, pushing the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily to 259 for the week ended Jan. 27.
The index was 22 percent higher than the same week during 2011.
New York Attorney General Eric Schneiderman Friday said he is confident his main concern with a pending settlement of alleged bank- foreclosure abuses would be resolved, but he didn't commit to participating in an agreement.
In December, the Federal Housing Administration's residential delinquency of at least 90 days jumped 30 basis points from November.
The rate of late payments was up 80 BPS when compared to December 2010.
The rate of serious delinquency has not improved a single time since April 2011, when the 90-day rate fell to 8.2 percent from 8.3 percent in March.
Quicken Loans Inc. is bringing on 800 people at its Downtown Detroit headquarters operation.
A posting on the company's website indicates that 500 interns and 300 "technology all stars" are being hired.
College students and recent graduates are the target of the hiring campaign.
Hanging fireplaces and smart thermostats are among the products that will be featured at the upcoming International Builders Show. Our columnist takes a look.
A builder of luxury homes reveals how he created his weekend retreat on a budget.
A builder of luxury homes reveals how he created his weekend retreat on a budget.
It has only been three days since the Residential Mortgage-Backed Securities Working Group was made public, and the group has already started staffing and taking action.
The task force was unveiled this week in the president's state of the union address.
So far, the Justice Department has dedicated 15 attorneys, investigators and analysts to the cause, and another 30 are expected to be assigned in the coming weeks. The Federal Bureau of Investigation has assigned 10 agents to the group.
Residential lenders originated 10 percent fewer first liens during Novebmer than were funded in October, according to new data released Friday
On an annual basis, more than 6 million first mortgages were closed from Jan. 1, 2011, through Dec. 31, 2011.
But last year's home-loan production was down by 13 percent compared to residential volume during 2010.
